UKIP's great business tycoon John Bickley goes bust owing more than £452k

Potential UKIP MP for Wythenshawe and Sale East said investors knew business was “high risk”

A would-be MP touted as a great businessman by UKIP ran a firm that went bust owing £452,845.

John Bickley, who is standing in the Wythenshawe and Sale East by-election in Greater Manchester, then set up a second firm that acquired failed IT outfit Genemation’s assets but none of its debts. The taxman was among creditors and lost £22,000.

Mr Bickley and his fellow directors pocketed a total of £546,671 in pay and pension ­contributions from Genemation, which lost £803,121 in four years before it collapsed.

He set up the firm FaceTec the following month. MP Toby Perkins, the MP running Labour’s by-election campaign, said: “He seems to be falling apart after a week as a candidate.”

Mr Bickley refused to comment. But United Kingdom Independence Party , which has hailed his “undeniable professional success”, said investors knew Genemation was “high risk”.

The firm was set up with Manchester University and UKIP added: “No members of the public were involved or lost money.”